The Case Against the Fed by Murray N. Rothbard

Description

The Case Against the Fed is a book by Murray N. Rothbard criticizing the United State Federal Reserve, fractional reserve banking, and central banks in general. It details the history of fractional reserve banking and the influence that bankers have had on monetary policy over the last few centuries.

Rothbard claims that the notion that the Federal Reserve is designed to fight inflation is merely propaganda. He explains that since money supply inflation is only caused by an increase in the money supply, and only banks increase the money supply, then banks, including the Federal Reserve are the only source of money supply inflation. (Wikipedia.org)

The most powerful case against the American central bank ever written. This work begins with a mini-treatment of money and banking theory, and then plunges right in with the real history of the Federal Reserve System. Rothbard covers the struggle between competing elites and how they converged with the Fed.
Rothbard calls for the abolition of the central bank and a restoration of the gold standard. His popular treatment incorporates the best and most up-to-date scholarship on the Fed's origins and effects.




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